DISCOUNTING OUR FUTURE: Trudeau & Notley’s Pipeline Failures Take Devastating Toll On Canadian Oil

Discount reaches insane levels, costing Canada millions of dollars daily.

The discount on Canadian oil (Western Canadian Select) compared to West Texas Intermediate has now reached absolutely absurd levels.

On October 12th, according to Oil Price dot com, the discount was more than $50 a barrel.

The price of West Texas Intermediate is $71.39

The price of Western Canadian Select is $15.97

As senior VP at Turner Investments Ryan Lewenza said to BNN Bloomberg“It’s just infuriating losing millions of dollars every day when we don’t have to. Boy, do we have to get this pipeline built,” he said about the Trans Mountain pipeline.

Added Lewenza, “This all goes back to the pipelines. We’ve got a bunch of oil, we can’t ship it. And so Canadian and international investors are basically avoiding Canada, and so that’s going to leave a cloud over the energy sector until we can get [the Trans Mountain expansion] pipeline built.”

And as Jason Kenney pointed out on Twitter, imagine if Eastern Canadian industries (like Bombardier) were facing this devastating discount:

“It’s almost unfathomable how bad this situation has gotten. Imagine the reaction from the Ottawa Liberals if a similar phenomenon existed for Eastern Canadian industries!”

Yet, when it’s Western Canada getting devastated, Trudeau not only does nothing, but he pushes legislation that will make pipeline approvals even less likely.

Justin Trudeau is playing a double-game, where he pretends to vaguely support the energy industry, while his actions show that he intends to slowly strangle the industry to death.

And Notley – who appointed far-left anti-oil extremists to important positions – and made the mistake of trusting Trudeau, has shown herself totally unable to defend the energy industry.

We can see that in the absurd price discount, we can see that in the pipelines Trudeau rejected, and we can see that in how he shackles the industry with endless regulations.

As a result, Canada is losing out on millions of dollars daily, and billions in investment has fled our nation.

It’s a growing disaster, and Trudeau is doing his best to pretend it isn’t even happening as he throws Western Canadians under the bus.

Spencer Fernando

Photos – YouTube

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Eleanor Merkus
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Eleanor Merkus

Dumbest PM ever!!!

doug
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doug

Actually he is not that dumb. He is doing to Alberta & the west what the east has had planned all along, to control the west at any cost.

Gonzo the Magnificent
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Gonzo the Magnificent

Doug, I would not phrase your statement as if there is some sort of conspiracy by Eastern Canadians to nail people in the West. Sure, there are many that don’t give a rip for any one but themselves and perhaps their province. However, most level-headed Canadians want a strong West and fairness across the nation. The Wests’ real mortal enemy is the LPC! Big difference!

Ken (Kulak)
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Ken (Kulak)

Trudeau made it clear in the past that the energy resource industry needs to be shut down. Notley is a two-faced liar in this regard. Trudeau’s aim is to turn western Canada into a 3rd world region. Pay back for electing Harper.

Jen
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Jen

Jihadi Trudeau is deliberately splitting and spitting on Province of Alberta and Sask from the rest of Canada, to such point we are forced to either summit to his way of life or, completely remove ourselves from the federation to become part of USA, knowing that Donald Trump will make oil sands strong again the same for Sask. By now, we should see how and where jihadi Trudeau’s intentions lies as you have seen by him promoting BC with the LNG that was created by the Harper Gov. Remember in 2014 Justin Trudeau wrote on twitter that ‘when he becomes… Read more »

Gonzo the Magnificent
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Gonzo the Magnificent

Demand has got to be very low, relative to West Texas crude and hence the discount. On top of it, supply is being hampered, given our poor ability of getting supply to market due to lack of pipeline infrastructure, which should drive prices up. WOW! NO ONE WANTS OUR OIL!! That’s what this tells me!